Information for investors of the Mt Hutt Project.
The property of this project is a development site intended to be used to develop on mountain townhouses. A liquidator has not been appointed to the registered proprietor. Rather it is owned by a company which is partially owned by another party.
Negotiations are continuing with the co-owner of the relevant company as to the timing and method of realisation.
Accordingly, it is not currently known as to whether any funds will be realised from this property after the repayment of the secured lender. The co-owner of the relevant company is meeting the interest costs of the secured creditor in the interim.
Further information will be provided when it is possible to do so.